QuidMarket Loan Compensation, What's it All About?
Have you ever borrowed a loan with QuidMarket? Do you think you could have been mis-sold this loan? If so, you could be eligible for a refund.
When borrowers are sold loans they can’t properly afford (i.e. mis-sold a loan), it can unfortunately worsen their financial situation. Forces Compare can help you make a claim against mis-sold loans from QuidMarket.
Click the “Start You Claim” button to get started on your claim with Forces Compare. Here, you’ll be taken to our online form, which is free to submit and takes only a few minutes to complete. Once you’ve filled in this form you should hear back from us in a couple of weeks.
“According to FOS statistics published in March 2021, Guarantor loans in particular were shown to have been upholding a huge 83% unaffordability complaints.”
Your Claim Is In Good Hands
Since their conception in 2013, Allegiant Financial Services Ltd have clawed back over £5om in financial misselling claims.
Why Could I Be Given a QuidMarket Loan Refund?
If you have taken out a loan with QuidMarket, and one or several of the following statements applies to your circumstances you may be entitled to compensation.
- During your application process, you may not have mentioned all of your debts and if this didn’t match with your credit record, the lender should have ensured to reaffirm this.
- It is possible that you underestimated your monthly expenditure due to guesswork or eagerness to be eligible for your loan, and in such circumstances, if your figures appeared too low, your lender should have explored their reliability further.
- At the time of your application did you have a regular income? If you were self-employed during this period or even had overtime that fluctuated, the lender should have looked at this.
- Did you have evidence of recent applications for credit or previous problems on your credit record? The lender should have been conscious of whether your situation appeared to be worsening.
- Whenever you topped up an existing loan, your lender should have ensured to run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending.
Have You Been Mis-Sold a QuidMarket Loan?
When being granted a loan you can’t properly afford, your financial position could worsen as a result. In these circumstances, you should have never been given the loan in the first place.
Additionally, if you were given an extension or a top-up on an existing loan, and this add-on didn’t go through the proper affordability checks, you could experience a greater, less manageable financial pressure on what you’re borrowing.
You should never be sold loans you can’t properly manage and afford. If you feel that you’ve been mis-sold a loan from QuidMarket, you could be eligible to make a claim.
Making a Claim: How Does it Work?